European stock markets bounce back from previous setbacks

European stock markets bounced back on Thursday trade from the previous downbeat performance. This as the pandemic recedes and allows the Eurozone to reopen its economy.

Germany’s DAX futures contract was up 0.3%. CAC 40 futures in France rose 0.1%. The FTSE 100 futures contract in the U.K. gained 0.8%.

European indices dipped on Wednesday as investors digested minutes from the Federal Reserve’s April meeting which suggested that the central bank officials were considering tapering its asset purchase programs in upcoming meetings.

Thursday’s market mood was different though as investors focused on the recovery situation in the region.

Governments in the Eurozone started lifting restrictions and reopened economies as infection rates drop and vaccinations rise. The U.K. largely reopened on Monday while Italy will call off its national curfew in the coming weeks. In Germany, restrictions gradually subside as inoculation programs take place.

In other news, gold futures were down 0.4% to $1,873.55/oz, nearly below their four-month high hit in the previous session, while EUR/USD added 0.1% at 1.2187.